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More room for BSP’s economic boosters confirmed by benign April inflation
The Bangko Sentral ng Pilipinas (BSP) anticipates low April inflation, with the actual rate at 2.2 percent, confirming more flexibility to inject additional stimulus into the Philippine economy.
BSP Governor Benjamin Diokno stated that this benign inflation gives the Monetary Board more room for easing monetary policy.
The latest consumer price index was within the forecast range of 1.9-2.7 percent.
This rate marks the lowest level in five months and is consistent with the BSP's assessment of benign inflation due to the pandemic's adverse economic impact.
The BSP chief reiterated his support for coordinated measures to ease the spillover effects of the pandemic on people and firms.
Diokno emphasized that the BSP stands ready to deploy any available measures in its toolkit as they continue to assess the pandemic's impact.
The BSP's latest forecasts indicate inflation could settle at 2 percent for 2020 and 2.5 percent for 2021.
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See how different news organizations are covering this story. Below are the original articles from various Philippine news sources that contributed to this summary.
The Bangko Sentral ng Pilipinas (BSP) sees room for further interest rate cuts due to manageable inflation, but the Monetary Board prefers to wait and assess the impact of previous easing measures.
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The Philippines' annual inflation eased to a five-month low of 2.2% in April, down from 2.5% in March.
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The Bangko Sentral ng Pilipinas (BSP) forecasts the inflation rate for April 2020 to be between 1.9% and 2.7%.
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